marginal_trader
Short

EUR/USD; Short? or Long?

OANDA:EURUSD   Euro / U.S. Dollar
The EUR/USD seems to be in a bit of a pickle, there was a false breakout represented by the ABCD shape, but there seems to be a reason behind that as the Coppock curve shows that it provided past support for that decline, so I would ignore the false breakout. But, the currency pair has reached a crucial resistance point, this is also represented by the 100 EMA , providing this resistance. Furthermore the 50 EMA is providing the support, so I would short just in till it has stalled in the green region, then sell. But, if a upward breakout occurs then I would sell my short position and go for the buy.
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